What's Hot: The 5 Developments on the Boards For Buzzard Point | IKEA Opening Small Format, Delivery-Only Location in Pentagon City
Home Price Watch: LeDroit Park, Where the Market is Stabilizing
In this week’s Home Price Watch, we turn our attention to LeDroit Park, where the home market has essentially stabilized.
LeDroit is a cozy neighborhood adjacent to Bloomingdale that’s bounded by Florida and Rhode Island Avenues to the south, 2nd Street to the east, Howard University to the north, and Bohrer Street and Howard University Hospital to the west.
The value of homes in the neighborhood has risen only slightly over the past year, according to data provided by RealEstate Business Intelligence (RBI). The segmented data from the real estate data firm shows a year-over-year snapshot in the advertised LeDroit Park subdivision between January-August 2013 and January-August 2014. The median price of a home rose just over 1 percent, from $608,500 to $615,000. Meanwhile, the amount of time homes spent on the market dropped slightly, from 40 days on average to 38.
That’s a big change from the wild growth LeDroit experienced between 2002 and 2012, when prices doubled.
Here are a few more takeaways from the data:
- Sellers have picked up on the slight price increases and are pricing their homes accordingly. The average list price for sold homes increased from 3.83 percent year-over-year, moving from $594,841 to $617,635. Buyers, in turn, increased bids slightly.
- 33 of the 55 homes sold so far this year sold in the first 20 days on the market.
- Most of the sales — 37 of them — were conventionally financed, meaning they were likely not purchased as flips or investment properties.
See other articles related to: home price watch, ledroit park, ledroit park market
This article originally published at https://dc.urbanturf.com/articles/blog/home_price_watch_ledroit_park_where_the_market_is_stabilizing/9074.
Most Popular... This Week • Last 30 Days • Ever
The 650,000 square-foot project, designed by Adjaye Associates and Hickok Cole, will ... read »
The largest development on the boards for the H Street Corridor is planned for a fami... read »
It is early in the year, but there are already a number of areas around DC where home... read »
This week's Best New Listings includes a condo with a former life as a hotel entrance... read »
Today, UrbanTurf is taking a look at the tax benefits associated with buying a home t... read »
The application to raze the infamous fast food location at New York and Florida Avenu... read »
While homeowners must typically appeal by April 1st, new owners can also appeal.... read »
At an ANC 4A meeting on Tuesday night, representatives from Whole Foods said that the... read »
The application has been filed for the American City Diner along Connecticut Avenue i... read »
As the neighborhood waits for highly-anticipated restaurants to open, and luxury home... read »
With this weekend's DC houseboat tour a day away, UrbanTurf thought it only fitting t... read »
President Obama travels to Denver this morning to sign the stimulus bill that has bee... read »
In this week's installment of Ask An Agent, a reader wonders if there is a rule for h... read »
As The Wharf prepares to begin construction, DC's houseboat community heads to its ne... read »
In this week's installment of Ask An Agent, a reader asks a fairly common question th... read »
- A First Look at the Five-Building Centerpiece of the St. Elizabeth's Redevelopment
- 200-Unit Apartment Project Planned For Autozone Site Along the H Street Corridor
- DC's 14 Million-Dollar Neighborhoods in 2023
- Best New Listings: A Hotel Entrance Turned Condo
- A Look At The Tax Benefits of Buying a Home Through a Trust
- The End is Here: Raze Permit Filed For Wendy's at Dave Thomas Circle
- How to Appeal Your DC Property Tax Assessment
- Whole Foods at Walter Reed To Open This Summer
- Raze Application May Spell The End For One of DC's Last Diner Buildings
- New Hotels, Mall Conversions And The 450 Units On The Boards For Georgetown
DC Real Estate Guides
Short guides to navigating the DC-area real estate market
We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Visit guides.urbanturf.com or start browsing below!
Intro guides for first-time home buyers
Awesome and unusual real estate from across the DC Metro